Thork

No, they aren't. They are a minority curiosity but people like amazon and wall-mart and iTunes accept almost any currency across the world apart from bitcoins. They are hardly THE cash of the internet.

Sell your bitcoins dude, I don't think they will ever be worth much more than they are right now. Its just a giant game of the emperor's new clothes and sooner or later the trust is going to go, and that's all bitcoin has. Nothing else backs it.

No, they aren't. They are a minority curiosity but people like amazon and wall-mart and iTunes accept almost any currency across the world apart from bitcoins. They are hardly THE cash of the internet.

That was a pretty terrible argument. It's not even worth typing up a response longer than this.

Sell your bitcoins dude, I don't think they will ever be worth much more than they are right now. Its just a giant game of the emperor's new clothes and sooner or later the trust is going to go, and that's all bitcoin has. Nothing else backs it.

You can't even tell me what a bitcoin is, you sure as hell can't tell me what to do with them. As soon as you learn what they are and how they do what they do, then you'll know why it's not going away. Until then, feel free to not post here ever again.

Thork

No, they aren't. They are a minority curiosity but people like amazon and wall-mart and iTunes accept almost any currency across the world apart from bitcoins. They are hardly THE cash of the internet.

That was a pretty terrible argument. It's not even worth typing up a response longer than this.

you might at least make some effort to justify your outlandish claim that bitcoin is the cash of the internet. Its an absurd statement.

Sell your bitcoins dude, I don't think they will ever be worth much more than they are right now. Its just a giant game of the emperor's new clothes and sooner or later the trust is going to go, and that's all bitcoin has. Nothing else backs it.

You can't even tell me what a bitcoin is, you sure as hell can't tell me what to do with them. As soon as you learn what they are and how they do what they do, then you'll know why it's not going away. Until then, feel free to not post here ever again.

From their high of over $1,100 they are now worth about half of that. I hope you haven't put too much of your savings into them.

Saddam Hussein

Thork is right on this point. Bitcoins are nowhere near as accepted as they would need to be to be called the "cash of the Internet." They might be someday in the future, but they're definitely not now.

From their high of over $1,100 they are now worth about half of that. I hope you haven't put too much of your savings into them.

This is what people were telling me when bitcoin hit $30 and then dropped to $2. "Wow I hope you sold them all!" You don't know what a Bitcoin is and you don't understand the technology or why it will be worth a lot, lot more in the future. Just wallow in your ignorance if you want, but feel free to wallow quietly as to not disturb me.

Thork is right on this point. Bitcoins are nowhere near as accepted as they would need to be to be called the "cash of the Internet." They might be someday in the future, but they're definitely not now.

He apparently doesn't understand what I meant, and neither do you. Just because someone doesn't take a currency, doesn't make it "not cash." If I didn't take physical dollar bills, would that make dollar bills not cash?

From their high of over $1,100 they are now worth about half of that. I hope you haven't put too much of your savings into them.

This is what people were telling me when bitcoin hit $30 and then dropped to $2. "Wow I hope you sold them all!" You don't know what a Bitcoin is and you don't understand the technology or why it will be worth a lot, lot more in the future. Just wallow in your ignorance if you want, but feel free to wallow quietly as to not disturb me.

Thork is right on this point. Bitcoins are nowhere near as accepted as they would need to be to be called the "cash of the Internet." They might be someday in the future, but they're definitely not now.

He apparently doesn't understand what I meant, and neither do you. Just because someone doesn't take a currency, doesn't make it "not cash." If I didn't take physical dollar bills, would that make dollar bills not cash?

Different currencies are accepted in different places. I can't pay for a pizza in America with a handful of Euros. I can't throw dollar bills at my monitor to buy things from Amazon. But oh wait, I can buy things on Amazon with my bitcoins. Sounds almost like... cash.... for the internet? Weird.

Let me run you through the steps.Step 1) Find the item you want on Amazon.com and determine its total cost. Step 2) Email your order to me at sgking37922[at]gmail.com.Step 3) After sending your email, send a sufficient number of bitcoins to cover the total cost ("Order Total") of the item from step 1, plus a one percent fee for my services, to the bitcoin address at the top left of this page.

What? I have to trust this gonk to order on my behalf, copy and paste screen shots of what I want and then give him my bitcoins + 1% AND hope he doesn't rip me off?

I admit that Amazon doesn't take them directly, I have to buy an Amazon gift card from Gyft.com and then use it on Amazon. I can buy things on Amazon with Bitcoin, it just takes a few extra steps.

Overstock and TigerDirect take Bitcoin directly, so I'll give it a few years before Amazon does the same. Bitcoin has very low fees compared to PayPal and credit cards, so Amazon, being a business that has a profit margin of less than 1%, won't ignore Bitcoin forever. It just doesn't make business sense not to take it.

I admit that Amazon doesn't take them directly, I have to buy an Amazon gift card from Gyft.com and then use it on Amazon. I can buy things on Amazon with Bitcoin, it just takes a few extra steps.

Overstock and TigerDirect take Bitcoin directly, so I'll give it a few years before Amazon does the same. Bitcoin has very low fees compared to PayPal and credit cards, so Amazon, being a business that has a profit margin of less than 1%, won't ignore Bitcoin forever. It just doesn't make business sense not to take it.

What? I have to trust this gonk to order on my behalf, copy and paste screen shots of what I want and then give him my bitcoins + 1% AND hope he doesn't rip me off?

And how does he order the goods for you? With FUCKING US DOLLARS!

You are literally the dumbest.

I'm sorry but Thork is right. If you have to convert bitcoins into another currency prior to using them, you aren't buying anything with them. At best you can say "I can buy gift cards with bitcoins from this one place". And that's all well and good if all you want are gift cards and the website doesn't go out of business.

I'm sorry but Thork is right. If you have to convert bitcoins into another currency prior to using them, you aren't buying anything with them. At best you can say "I can buy gift cards with bitcoins from this one place". And that's all well and good if all you want are gift cards and the website doesn't go out of business.

Because there are places outside the internet, obviously you can't use internet currency everywhere. If I go to the UK I have to convert my dollars to pounds. That doesn't mean the dollar isn't a currency. The Overstock CEO even stated he has to convert some of the coins in order to pay his employees. The cash of the internet is only used on the internet. Go figure.

I'm sorry but Thork is right. If you have to convert bitcoins into another currency prior to using them, you aren't buying anything with them. At best you can say "I can buy gift cards with bitcoins from this one place". And that's all well and good if all you want are gift cards and the website doesn't go out of business.

Because there are places outside the internet, obviously you can't use internet currency everywhere. If I go to the UK I have to convert my dollars to pounds. That doesn't mean the dollar isn't a currency. The Overstock CEO even stated he has to convert some of the coins in order to pay his employees. The cash of the internet is only used on the internet. Go figure.

Except it's not.Amazon.com is pure internet. There is no physical store yet they won't take bitcoins.

And it's not even just them. I could agree with you if 10% of websites took bitcoin but they don't. You can probably count on two hands the number of sites that accept bitcoin as payment. Worse yet, bitcoin is too unstable to be a usable currency. With US Dollars to British Pounds, the ratio is roughly the same for a long time. It might change from 2x to 3x but that's it. Bitcoin, as we've seen, has went from 100x the US dollar to 30x in only a few days.

And it's not even just them. I could agree with you if 10% of websites took bitcoin but they don't. You can probably count on two hands the number of sites that accept bitcoin as payment. Worse yet, bitcoin is too unstable to be a usable currency. With US Dollars to British Pounds, the ratio is roughly the same for a long time. It might change from 2x to 3x but that's it. Bitcoin, as we've seen, has went from 100x the US dollar to 30x in only a few days.

The market is growing, so the price volatility is an irrelevant argument. Volatility decreases as the amount of users increase.

Thork

I admit that Amazon doesn't take them directly, I have to buy an Amazon gift card from Gyft.com and then use it on Amazon. I can buy things on Amazon with Bitcoin, it just takes a few extra steps.

Fair enough. That's still pretty neat.

Why is it neat? Why take all the extra steps when you can just use your local currency? A currency that likely hasn't lost half its value in the last 2 months and didn't require a third party broker who took a slice?And a gift card? How annoying. If I want something that is £7.49 what happens to my £2.51 change? Oh, Amazon hold that money for me offering no interest until my next purchase. What if instead I want to use that £2.51 to buy a cup off coffee? With regular cash, no problem.

The biggest problem with bitcoin, and it hasn't been addressed yet, is that it is only accessible to the technically astute. You can't have a currency that isn't accessible to everyone. Money as we know it, is recognised and used by everyone. Its an easier way to trade than barter, which is why we use it. Bitcoin isn't.

I'm sure Rushy will rush back saying how easy it is and that only a moron couldn't use it and blah blah, but its not as easy to use as cash. And there in, will lie its downfall.